Ethereum

Bitcoin ETF

Gary

<p><span style="font-weight: 400;">A spot </span><a href="https://insidebitcoins.com/news/sec-delays-decision-on-grayscales-spot-ethereum-etf-asks-if-its-susceptible-to-manipulation-and-fraud" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Ethereum ETF</span></a><span style="font-weight: 400;"> (exchange-traded fund) may not be approved in the U.S. until late 2025 or early 2026, said investment bank TD Cowen.</span></p>
<p><span style="font-weight: 400;">“We believe there is no upside for SEC Chair Gary Gensler to approve a spot Ethereum ETF given how upset progressive Democrats were over the agency’s approval of a spot bitcoin ETF earlier this month, ” said TD Cowen Washington Research Group analysts led by Jaret Seiberg in a Jan. 29 note. “This is a political call.”&nbsp;</span></p>
<p><img decoding="async" src="https://www.cryptotimes.io/wp-content/uploads/2023/06/TD.jpg" alt="TD Cowen Pulls the Plug on its Crypto Unit Cowen Digital"></p>
<h2 id="span-style-font-weight-400-gary-gensler-needs-the-support-of-progressives-span"><span style="font-weight: 400;">Gary Gensler Needs The Support Of Progressives</span></h2>
<p><span style="font-weight: 400;">In order to push his agenda in the next election year, Gensler needs the support of progressive democrats, noted TD Cowen. This remains true even if the SEC Chair pursues a different role as Treasury secretary in the event Joe Biden wins a second term, said the bank.</span></p>
<p><span style="font-weight: 400;">“There is no reason to provoke a needless fight,” the analysts said. “We say needless, as our view remains that Gensler is in no hurry to approve an Ethereum ETF as he would first like more experience with the performance of the recently approved spot Bitcoin ETFs.“&nbsp;</span></p>
<p><span style="font-weight: 400;">This is “consistent with his broader approach to crypto, which is to move incrementally and slowly when it comes to providing regulatory approvals or clarity, ” the bank added.</span></p>
<h2 id="span-style-font-weight-400-investment-giants-differing-timelines-for-a-spot-ethereum-etf-span"><span style="font-weight: 400;">Investment Giants’ Differing Timelines For A Spot Ethereum ETF</span></h2>
<p><span style="font-weight: 400;">Wall Street banking giant JPMorgan </span><a href="https://insidebitcoins.com/news/ethereum-price-prediction-as-jpmorgan-sees-only-a-50-chance-of-eth-etf-approvals-by-may-analysts-say-this-gamefi-presale-might-be-the-best-crypto-to-buy-now" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">echoes</span></a><span style="font-weight: 400;"> TD Cowen’s sentiment that a spot </span><a href="https://www.coingecko.com/en/coins/ethereum" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Ethereum</span></a><span style="font-weight: 400;"> ETF will not be approved any time soon. Earlier this month, it said there is only a 50% chance that these ETFs will be approved by May this year.&nbsp;</span></p>
<p><span style="font-weight: 400;">“For the SEC to approve spot </span><a href="https://insidebitcoins.com/news/ethereum-price-prediction-as-intotheblock-says-markets-assume-eth-etfs-are-next-investors-rush-to-buy-this-bitcoin-halving-play-with-only-hours-left-in-its-bumper-8-4-million-presale" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Ethereum</span></a><span style="font-weight: 400;"> ETFs in May, it would need to classify Ethereum as a commodity (similar to Bitcoin) rather than a security,” said JPMorgan’s Nikolaos Panigirtzoglou.</span></p>
<p><span style="font-weight: 400;">The JPMorgan analyst believes that this is “far from given.”</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">When are we getting a Spot <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> ETF? <a href="https://twitter.com/ARKInvest?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@ARKInvest</a>’s President and COO Tom Staudt says “soon.”</p>
 <p>Full discussion: <a href="https://t.co/hbeY4TTr4f" rel="noopener noreferrer nofollow">https://t.co/hbeY4TTr4f</a> <a href="https://t.co/gjZghlre4M" rel="noopener noreferrer nofollow">https://t.co/gjZghlre4M</a> <a href="https://t.co/NWNOtldp1T" rel="noopener noreferrer nofollow">pic.twitter.com/NWNOtldp1T</a></p>
 <p>— Eleanor Terrett (@EleanorTerrett) <a href="https://twitter.com/EleanorTerrett/status/1750005601378213906?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 24, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p><span style="font-weight: 400;">On the other hand, ARK Invest President and COO Tom Staudt said a spot Ethereum ETF may “soon” receive approval from the SEC.</span></p>
<h3 id="span-style-font-weight-400-related-articles-span"><span style="font-weight: 400;">Related Articles:</span></h3>
<ul>
 <li style="font-weight: 400;" aria-level="1"><a href="https://insidebitcoins.com/news/bitcoin-etf-flows-dip-into-the-red-for-the-first-time-since-launch" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin ETF Flows Dip Into The Red For The First Time Since Launch</span></a></li>
 <li style="font-weight: 400;" aria-level="1"><a href="https://insidebitcoins.com/news/coinbase-price-tumbles-after-jpmorgan-downgrades-stock-on-bitcoin-etf-disappointment" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Coinbase Price Tumbles After JPMorgan Downgrades Stock On Bitcoin ETF Disappointment</span></a></li>
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Spot Ethereum ETF Approval May Be Delayed Until 2026 On “Political Call” By Gary Gensler, TD Cowen Says

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